Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Premier League arms race: Jahm Najafi to bid $3.75B for Tottenham Hotspur - report

Published 02/15/2023, 06:22 AM
Updated 02/15/2023, 06:34 AM
© Reuters.  Premier League arms race: Jahm Najafi to bid $3.75B for Tottenham Hotspur - report

© Reuters. Premier League arms race: Jahm Najafi to bid $3.75B for Tottenham Hotspur - report

By Senad Karaahmetovic

While the press continues to speculate on who will become the new owner of the legendary football club Manchester United (NYSE:MANU), it appears that other top English Premier League clubs are also attracting investor attention.

The PL arms race was started after Russian tycoon Roman Abramovich was forced to sell Chelsea Football Club. A consortium led by Los Angeles Dodgers part-owner Todd Boehly completed the takeover in May 2022 in a multi-billion-dollar deal, bringing an end to Roman Abramovich’s 19-year ownership.

A couple of months later, it was reported that U.S.-based Fenway Sports Group (FSG) has put Liverpool up for sale. Just two weeks later, Liverpool’s biggest rival and arguably the biggest club in the country - Manchester United - was up for sale as well.

Recent press reports noted that investors linked to Qatar state are expected to bid for MANU with any deal expected to easily exceed $5 billion. Today, reports emerged that Iranian-American billionaire Jahm Najafi, chair of MSP Sports Capital, will bid $3.75B for London-based Tottenham Hotspur. The Financial Times first reported on Najafi’s intentions.

According to the report, Tottenham is valued at $3B, in addition to $750 million of debt on the club’s books. The club opened its state-of-the-art new stadium in 2019.

FT reported that MSP intends to cover 70% of the bid while 30% will come from Gulf investors, mainly from Abu Dhabi.

 
 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.